45-17-90.53
Section 45-17-90.53 Duration of tax; referendum. (a) Subject to subsection (b), the taxes herein
authorized shall continue so long as securities secured by a pledge of such taxes shall remain
outstanding. Such taxes shall expire and the Local Public Corporation shall be abolished when
the original securities, including refunding securities hereafter issued to refund the original
securities, for the Shoals Economic Development Project shall have been paid in full. Securities,
for which an irrevocable trust fund consisting of cash or direct general obligations of the
United States of America, or both, shall be established for retirement of all of the principal
of or interest on any outstanding security, shall be deemed paid in full for the purposes
of this subpart. (b) Notwithstanding subsection (a), on the date when the original securities
for the Shoals Economic Development Project shall have been paid in full, the taxes herein
authorized and the Local Public Corporation shall continue...
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45-17-90.40
Section 45-17-90.40 Definitions. For the purposes of this subpart, the following terms shall
have the respective meaning ascribed by this section: (1) AUTHORIZED MUNICIPALITIES. The Cities
of Sheffield, Tuscumbia, Muscle Shoals, Cherokee, Littleville, Leighton, and Florence. (2)
COUNTY. Colbert County which is authorized to levy excise taxes pursuant to the provisions
of this subpart. (3) GASOLINE. Gasoline, naphtha and other liquid motor fuels or any device
or substitute therefor commonly used in internal combustion engines; provided, that such term
shall not be held to apply to those products known commercially as "kerosene oil,"
"fuel oil," or "crude oil" when used for lighting, heating, or industrial
purposes. (4) LOCAL PUBLIC CORPORATION. A public corporation incorporated in either Colbert
County or Lauderdale County pursuant to Chapter 99B of Title 11, Article 9, commencing with
Section 11-47-210, of Chapter 47 of Title 11, or any other public corporation organized under
the laws...
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45-39-92.40
Section 45-39-92.40 Definitions. For the purposes of this subpart, the following terms shall
have the respective meaning ascribed by this section: (1) AUTHORIZED MUNICIPALITIES. The Cities
of Sheffield, Tuscumbia, Muscle Shoals, Cherokee, Littleville, Leighton, Florence, Rogersville,
Killen, Anderson, Lexington, St. Florian, and Waterloo. (2) COUNTY. Lauderdale County which
is authorized to levy excise taxes pursuant to this subpart. (3) DISTRIBUTOR. Any person who
engages in the selling of gasoline or motor fuel in this state by wholesale domestic trade,
but shall not apply to any transaction of such distributor in interstate commerce. (4) GASOLINE.
Gasoline, naphtha, and other liquid motor fuels or any device or substitute therefor commonly
used in internal combustion engines; provided, that such term shall not be held to apply to
those products known commercially as kerosene oil, fuel oil, or crude oil when used for lighting,
heating, or industrial purposes. (5) LOCAL PUBLIC...
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45-8-242
Section 45-8-242 Levy of tax; advisory referendum; collection of tax; disposition of funds.
(a) This section shall only apply to Calhoun County. (b) As used in this section, state sales
and use tax means the tax imposed by the state sales and use tax statutes, including, but
not limited to, Sections 40-23-1, 40-23-2, 40-23-4, 40-23-60, 40-23-61, 40-23-62, and 40-23-63.
(c)(1) The County Commission of Calhoun County may levy in the police jurisdictions of the
incorporated municipalities in the county and in the unincorporated areas of the county, in
addition to all other taxes a sales and use tax, parallel to the state sales and use tax,
of up to two percent of the gross sales, gross receipts, or the fair and reasonable market
value of tangible personal property, as appropriate, except where a different rate is provided
herein. Notwithstanding any other part or provision of this section, no additional tax levied
by this section shall be levied or collected on the sale, storage, use, or...
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45-39-92.52
Section 45-39-92.52 Disposition of funds. Expenditures from the special fund provided for in
Section 45-39-92.51 shall be made exclusively for the purposes of paying principal of and
interest on securities evidencing obligations incurred for payment for the Shoals Economic
Development Project. All of the proceeds of the taxes herein authorized shall be specifically
pledged by the Lauderdale County Commission to the payment of principal of and interest on
the securities, whether such securities are issued by the county or by a local public corporation.
The pledge of the taxes herein authorized for the payment of the principal of and interest
on securities issued by Lauderdale County or a local public corporation, together with any
applicable covenants of the county and the local public corporation relating to such pledge,
shall have the force of contract between the county, the local public corporation, and the
holders of the securities. The proceeds of the taxes may be deposited by the...
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45-39-92.53
Section 45-39-92.53 Abolition of corporation upon payment in full of securities; disposition
of proceeds. (a) When the original securities secured by a pledge of the taxes authorized
in this subpart, including refunding securities hereafter issued to refund the original securities,
for the Shoals Economic Development Project have been paid in full, the local public corporation
is abolished. Securities for which an irrevocable trust fund consisting of cash or direct
general obligations of the United States of America, or both, is established for retirement
of all of the principal of or interest on any outstanding security, shall be deemed paid in
full for the purposes of this subpart. (b) Notwithstanding any other provision of this subpart,
the local public corporation may not increase any outstanding debt or debt obligations or
create additional debts relating to the original bond balance owed as of May 12, 2005. (c)
(1) Upon abolishment of the local public corporation, the proceeds of...
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45-17-90.52
Section 45-17-90.52 Disposition of funds. Expenditures from the special fund provided for in
Section 45-17-90.51 shall be made exclusively for the purposes of paying principal of, premium,
if any, and interest on securities evidencing obligations incurred for payment for the Shoals
Economic Development Project. All of the proceeds of the taxes herein authorized shall be
specifically pledged by the Colbert County Commission to the payment of principal of, premium,
if any, and interest on the securities, whether such securities are issued by the county or
by a local public corporation. The pledge of the taxes herein authorized for the payment of
the principal of, premium, if any, and interest on securities issued by Colbert County or
a local public corporation, together with any applicable covenants of the county and the local
public corporation relating to such pledge, shall have the force of contract between the county,
the local public corporation, and the holders of the securities....
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45-17-90.54
Section 45-17-90.54 Purpose; powers. (a) It is hereby determined that the development of the
Shoals Economic Development Project is for a public purpose and will be in the best interest
of the citizens of Lauderdale County and Colbert County. For the purposes of aiding or cooperating
with Lauderdale County, the City of Florence, RSA, and with a local public corporation in
the development, acquisition, construction, improvement, or financing of the Shoals Economic
Development Project, Colbert County and the Cities of Sheffield, Tuscumbia, and Muscle Shoals
may, upon such terms and with or without consideration, as it may determine: (1) Lend or donate
money to, guarantee all or any part of the securities, or perform services for the benefit
of, the local public corporation. (2) Donate, sell, convey, transfer, lease, or grant to the
local public corporation or to RSA without the necessity of authorization at any election
of qualified voters, any real or personal property of any kind. (3)...
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45-11-244.11
Section 45-11-244.11 Effective date; termination of levy of taxes. (a) If the governing body
of the county elects to levy and impose any of the taxes herein authorized to be levied and
imposed, it shall specify in the resolution levying and imposing such taxes the first day
of the second calendar month next following that during which such levy is made as the effective
date of such levy. Such resolution may provide such other terms or provisions relating to
the levy, collection, administration, and enforcement of such taxes as are not contrary to
or inconsistent with the provisions of this part. (b) The governing body of the county may,
at any time and from time to time after the levy of any of the taxes herein authorized, but
subject to succeeding provisions of this section, and subject to constitutional limitations
on the impairment of contracts, terminate any of the taxes herein authorized to be levied
by it. (c) No tax levied hereunder may be terminated by the county, as authorized...
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45-39-92.54
Section 45-39-92.54 Purpose; powers. (a) It is hereby determined that the development of the
Shoals Economic Development Project is for a public purpose and will be in the best interest
of the citizens of Lauderdale County and Colbert County. For the purposes of aiding or cooperating
with Colbert County, the Cities of Sheffield, Tuscumbia, and Muscle Shoals, RSA, and with
a local public corporation in the development, acquisition, construction, improvement, or
financing of the Shoals Economic Development Project, Lauderdale County and the City of Florence
may, upon such terms and with or without consideration, as it may determine: (1) Lend or donate
money to, guarantee all or any part of the securities, or perform services for the benefit
of, the local public corporation. (2) Donate, sell, convey, transfer, lease, or grant to the
local public corporation or to RSA without the necessity of authorization at any election
of qualified voters, any real or personal property of any kind,...
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